FCM Clearing License definition

FCM Clearing License means a clearing license granted to an FCM Clearing Member by Eurex Clearing AG pursuant to Number 2.
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Examples of FCM Clearing License in a sentence

  • An FCM Clearing Member is obliged, at the request of Eurex Clearing AG, to provide Eurex Clearing AG with evidence of compliance with the prerequisites for an FCM Clearing License, including, in particular, evidence of implementation of risk management processes.

  • The FCM Clearing Member is no longer in compliance with the relevant prerequisites for its FCM Clearing License set forth in Number 2.2.

  • FCM Clearing Members which possess a FCM Clearing License for Interest Rate Derivative Transactions according to Chapter II of the FCM Regulations of Eurex Clearing.

  • The termination shall take effect on the later of the following dates: (i) 30 days after receipt of the termination notice and (ii) after all Swap Transactions which are subject to the FCM Clearing Agreement and corresponding FCM Clearing License have been cancelled, closed or fulfilled.

  • It must provide evidence of its adjusted net capital to Eurex Clearing AG as part of the application, and if the FCM Clearing License is granted, periodically thereafter as provided in Number 2.3 Paragraph (3).

  • In case of simple negligence, the liability of Eurex Clearing AG is restricted only to damages typically foreseeable at the time of granting the FCM Clearing License.

  • If an FCM Clearing Agreement or the relevant FCM Clearing License of an FCM Clearing Member has been terminated, no new Swap Transaction (other than a Swap Transaction that liquidates an existing Swap Transaction) of such FCM Clearing Member, may be included in the Clearing after receipt of the termination notice in accordance with Number 15.

  • The obligation of an FCM Clearing Member to make an FCM Contribution becomes first due and payable as of the date of the granting of its FCM Clearing License.

  • An entity which is holder of an FCM Clearing License grants express consent to a right of re-use of financial assets provided as collateral towards Eurex Clearing AG under one or more title transfer collateral arrangements or one or more security collateral arrangements and acknowledges the general risks and consequences attached to the re-use of collateral.

  • Each FCM Mandatory Participant is obliged to submit one Bid (each a “ Mandatory Bid“) for the respective Auction Unit with respect to all currencies for which such FCM Mandatory Participant holds an FCM Clearing License, subject to the DM Auction Rules.

Related to FCM Clearing License

  • European Clearing Systems means, collectively, Clearstream, Luxembourg and Euroclear.

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Book-Entry Interest means a beneficial interest in a Global Certificate, ownership and transfers of which shall be maintained and made through book entries by a Clearing Agency as described in Section 9.4.

  • Relevant Clearing System means (i) Euroclear, (ii) Clearstream, Luxembourg, or (iii) any other recognised clearing system in which ETP Securities of a Series may be cleared.

  • Book-Entry Capital Security means a Capital Security, the ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Clearing Agreement means Clearing, Settlement and Sponsorship Services Agreement by and between the Borrower and Fifth Third Bank dated as of June 30, 2009, as the same may be amended, modified, supplemented, restated or amended and restated from time to time.

  • Clearing Organization means (a) The Depository Trust Company, or, if agreed to by Borrower and Lender, such other “securities intermediary” (within the meaning of the UCC) at which Borrower (or Borrower’s agent) and Lender (or Lender’s agent) maintain accounts, or (b) a Federal Reserve Bank, to the extent that it maintains a book-entry system.

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Book-Entry System means the Federal Reserve/Treasury book-entry system for receiving and delivering securities, its successors and nominees.

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

  • Clearing Participant means a bank or any person who submits a cheque, IBG or FAST to the Clearing House for clearing;

  • recognised clearing house means an organisation recognised as such pursuant to FSMA;

  • Restricted Global Security As defined in Section 3.01(c).

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

  • Clearing Corporation The meaning specified in Section 8-102(a)(5) of the UCC.

  • Clearing Agency Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Full Entitlement ADR(s) “Full Entitlement ADS(s)” and “Full Entitlement Share(s)” shall have the respective meanings set forth in Section 2.12.

  • Clearing Systems means, in relation to a Series of Securities, any of Euroclear, Clearstream, Luxembourg and DTC, as the case may be, and includes any additional or alternative clearing systems specified in the Issue Terms.

  • central securities depository means a person or company that provides centralized facilities as a depository of securities, including securities accounts, central safekeeping services and asset services, which may include the administration of corporate actions and redemptions;